Perplexity Unveils $50M Seed and Pre-Seed Venture Capital Fund to Fuel Innovative Startups

Perplexity Unveils $50M Seed and Pre-Seed Venture Capital Fund to Fuel Innovative Startups

Perplexity, a leading developer of an innovative AI-powered search engine, is making headlines with its announcement of a new investment initiative. The company is set to raise a substantial $50 million seed and pre-seed investment fund, according to a report by CNBC. This move signifies a strategic effort to bolster its growth and expand its influence in the tech industry.

Details of Perplexity’s Investment Fund

The majority of the capital for Perplexity’s new fund is sourced from limited partners, but the company is also utilizing part of the funds it previously raised to anchor this investment initiative. Notably, Perplexity secured $500 million at an impressive $9 billion valuation back in December.

Management Team Behind the Fund

Perplexity’s investment fund will be managed by experienced general partners Kelly Graziadei and Joanna Lee Shevelenko. Both co-founded the early-stage venture firm F7 Ventures in 2018, as noted in PitchBook data. F7 Ventures has made significant investments in emerging startups, including the women’s health company Midi.

It is currently unclear whether Graziadei and Shevelenko will continue their involvement with F7 Ventures or dedicate their full attention to managing Perplexity’s new venture fund.

Comparative Analysis: OpenAI’s Investment Strategy

In the realm of AI investments, OpenAI also operates its own investment fund, known as the OpenAI Startup Fund. However, a key distinction between the two funds is that OpenAI does not utilize its own capital for these investments, setting it apart from Perplexity’s approach.

Conclusion

As Perplexity embarks on this new investment journey, it aims to leverage its expertise and resources to foster innovation in the tech landscape. This initiative not only highlights the company’s commitment to growth but also positions it as a significant player in the AI sector.

READ ALSO  Cybersecurity Firm Freeze Secures $2.6M Seed Funding to Boost Attack Surface Protection Solutions

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